features of business cycle
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The four different phases of business cycles are – expansion, peak, depression, and recovery. While all these phases have their own unique characteristics, there are some features that are common to all the phases.
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The four different phases of business cycles are – expansion, peak, depression, and recovery. While all these phases have their own unique characteristics, there are some features that are common to all the phases.The different phases of business cycles are shown in Figure-1: There are basically two important phases in a business cycle that are prosperity and depression. The other phases that areexpansion, peak, trough and recovery are intermediary phases.
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